Olympic Steel (NASDAQ:ZEUS) Given New $43.00 Price Target at KeyCorp

Olympic Steel (NASDAQ:ZEUS) had its price target raised by KeyCorp from $42.00 to $43.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

Separately, StockNews.com raised shares of Olympic Steel from a “hold” rating to a “buy” rating in a report on Friday, February 21st.

Olympic Steel Stock Up 2.9 %

ZEUS opened at $36.00 on Monday. Olympic Steel has a 52 week low of $30.29 and a 52 week high of $73.27. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The firm has a 50-day simple moving average of $34.16 and a two-hundred day simple moving average of $37.56. The company has a market capitalization of $400.90 million, a PE ratio of 18.27 and a beta of 1.52.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. The company had revenue of $418.78 million during the quarter, compared to analyst estimates of $441.60 million. Analysts forecast that Olympic Steel will post 2.69 earnings per share for the current fiscal year.

Olympic Steel Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.16 dividend. This is an increase from Olympic Steel’s previous quarterly dividend of $0.15. The ex-dividend date is Monday, March 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.78%. Olympic Steel’s dividend payout ratio (DPR) is presently 32.49%.

Institutional Investors Weigh In On Olympic Steel

Several large investors have recently added to or reduced their stakes in ZEUS. Janney Montgomery Scott LLC raised its stake in shares of Olympic Steel by 2.0% in the third quarter. Janney Montgomery Scott LLC now owns 30,120 shares of the basic materials company’s stock valued at $1,175,000 after acquiring an additional 578 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of Olympic Steel by 2.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 25,374 shares of the basic materials company’s stock worth $833,000 after purchasing an additional 705 shares during the period. Los Angeles Capital Management LLC grew its holdings in Olympic Steel by 11.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 770 shares during the last quarter. Van ECK Associates Corp raised its position in Olympic Steel by 3.7% in the 4th quarter. Van ECK Associates Corp now owns 22,080 shares of the basic materials company’s stock worth $724,000 after purchasing an additional 780 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Olympic Steel by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,891 shares of the basic materials company’s stock worth $456,000 after purchasing an additional 839 shares during the last quarter. 87.07% of the stock is owned by institutional investors.

Olympic Steel Company Profile

Olympic Steel, Inc processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The company offers stainless steel and aluminum coil and sheet products, angles, rounds, and flat bars; alloy, heat treated, and abrasion resistant coils, sheets and plates; coated metals, including galvanized, galvannealed, electro galvanized, advanced high strength steels, aluminized, and automotive grades of steel; commercial quality, advanced high strength steel, drawing steel, and automotive grades cold rolled steel coil and sheet products; hot rolled carbon comprising hot rolled coil, pickled and oiled sheet and plate steel products, automotive grades, advanced high strength steels, and high strength low alloys; tube, pipe, and bar products, including round, square, and rectangular mechanical and structural tubing; hydraulic and stainless tubing; boiler tubing; carbon, stainless, and aluminum pipes; valves and fittings; and tin mill products, such as electrolytic tinplate, electrolytic chromium coated steel, and black plates.